Nuveen Green Capital Provides $42 Million Loan For CitizenM Hotel Conversion In Washington DC
3401 Water Street Northwest
$42,000,000
$494/SF
Building Size
85,000 SF
Asset Type
Hotel
Closing
Dec 17, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 3401 Water Street Northwest in Washington, DC. It spans 86,000 square feet and consists of 230 keys.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $42,000,000
- Loan Type: Construction
- Loan Terms: 30 years
- Lender: Jonathan Kloos, Joseph Zhong & Colleen Chou - Nuveen Green Capital
- Landlord: Another Star
This transaction involved the expertise of Jonathan Kloos, Joseph Zhong, and Colleen Chou, who represented Nuveen Green Capital as lenders. The financing aims to support the conversion of the citizenM Hotel and enhances energy and water efficiency measures through C-PACE financing in collaboration with DC Green Bank.
On the Map
$42,000,000
$494/SF
Hotel
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Players
Washington Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93